University of New Mexico Foundation Inc

“The board of regents of the university of new mexico may appoint one member to the unm foundation's board of trustees. The board of regents is the constitutionally described governing body of the university, having fiduciary responsibility for the assets and programs of the university. The board of trustees is the elected governing board of the unm foundation, having fiduciary responsibility for the assets and programs of the unm foundation. The president of the university of new mexico serves on the unm foundation board of trustees and may appoint up to two unm deans to serve on the unm foundation board of trustees.”

“The consolidated investment fund includes assets owned by the university of new mexico and assets owned by the unm foundation. The board of regents of the university and the board of trustees of the unm foundation jointly approve the investment policy and the investment consultant for the consolidated investment fund.”

“The form 990 is prepared by an independent accounting firm and reviewed by the audit committee and the executive committee. After the audit committee approves the form 990, a public disclosure copy of the 990 is provided to each member of the board of trustees prior to filing. The unredacted schedule b to the form 990 is not reviewed by the full board due to the confidential and private nature of its donor list. The form 990 is then filed with the internal revenue service.”

“All officers, trustees and key employees attest to their independence upon appointment or hire and reaffirm their independence annually. A trustee with a conflict is not permitted to vote on any action pertaining to that matter. There were no conflicts of interest in the current year.”

“The ceo's compensation is determined by the unm foundation board of trustees' executive committee. The compensation for all other foundation employees is determined by the ceo within ranges consistent with peer organizations. To assure the reasonableness of the compensation arrangement for the ceo and all other foundation employees who may be considered a "disqualified person," on at least an annual basis the foundation board of trustees' compensation committee conducts a comprehensive compensation analysis. The compensation committee's compensation analysis is performed by trustees who are independent and have no conflict of interest, and the analysis assures that the compensation arrangement for each potentially disqualified person is reasonable based on a comparison to compensation data from local sources and benchmarking of regional and national peers. In addition, every five years, the foundation conducts an individualized benchmarking study of the compensation for all potentially disqualified persons. The compensation committee documents all of its analyses in written minutes and reports. The compensation committee last conducted and documented its compensation analysis in fy 2023/2024.”

“The unm foundation's form 990 and 990-t are available upon request from the office of marketing and communications and on its website at www.unmfund.org. Form 990 is also available to the public through guidestar's website at www.guidestar.org. The organization's form 1023 is available upon request only.”

“The foundation's governing documents are filed with the new mexico secretary of state. Interested parties may request copies of the foundation's governing documents, conflict of interest policy, and audited financial statements from the unm foundation's office of marketing and communications. The organization's governing documents, conflict of interest policy and audited financial statements are posted on its website: www.unmfund.org.”

“The development funding allocation is a fee assessed against the consolidated investment fund, which holds and invests endowment assets on behalf of the university and the unm foundation. The amount reported on line 2b ($3,331,176) as revenue is the assessment against the endowment assets owned by the university. The amount assessed against endowment assets owned by the unm foundation ($5,766,926) is not reflected as revenue but as a transfer of assets from restricted to unrestricted funds.”

“Create powerful engagements and partnerships that lead to increased philanthropy, investment, innovation, and support for the university of new mexico.”

“Annuity change in actuarial liability 271,589. Pass-through partnership revenue not included in book income -3,498,016.”

“Investment management fees reported are prorated based on the percentage of the endowment owned by the university and the percentage owned by the unm foundation.”

“The fundraising expenses reported reflect all the expenses incurred by the foundation to secure private contributions in support of the university of new mexico. However, the contributions reported in part i, line 8, and part viii, line 1h, include only contributions that are processed through the foundation's financial records. For instance, gifts of artwork, real estate, and equipment for use by the university are processed through the university's financial records and are not included in part i, line 8, and part viii, line 1h. Similarly, pledges to endowment funds are not included and only realized bequests are included in accordance with generally accepted accounting principles. Therefore, form 990 should not be used to determine the foundation's cost-to-raise-a-dollar, given the exclusions/limitations noted above.”

“Endowment assets of both the university and the unm foundation are held in the consolidated investment fund. Endowment assets owned by the university ($341,630,672) are not reported on the unm foundation's form 990. Endowment assets owned by the unm foundation ($472,779,719) are reported on the unm foundation's form 990, part x, lines 2, 11 and 12 with additional detail on schedule d, part vii.”